Dr. Doom, Nouriel Roubini, who's been pretty much wrong on everything for the past five years, is now drawing parallels between 2014 and 1914.
#wef14 Echoes of 1914: backlash against globalization, gilded age of inequality, rising geopolitical tensions, ignoring tail risks
— Nouriel Roubini (@Nouriel) January 23, 2014
I've been waiting for a pullback to get back into stocks and I like all this worry and fear that is building. A bit lower, say, S&P 1750 or so, and I will start buying.Let's hope Dr. Doom keeps scaring people until then.
10 comments:
On the other hand, it doesn't take a Roubini to see the parallels, and this has been pointed out by others practically from the beginning of the crisis, when people were whether there would be a repeat of Credit Anstalt.
One thing we have to admit about Mr. Doom - he is a good salesman.
That depends on who your "customers" are, Ryan. I'm certainly not buying what he's selling.
Here's his brother from another mother (looks like he is short the bonds> ouch!):
Marc Faber: 'We Are in a Gigantic Financial Asset Bubble'
http://www.moneynews.com/StreetTalk/Marc-Faber-economy-Financial-Asset-Bubble/2014/01/16/id/547399
"When it comes to interest rates, the rise in bond yields since 2012 hasn't hurt stocks yet, Faber acknowledges. Indeed, it has pushed money from bonds to stocks, he says.
But if the 10-year Treasury yield reaches 3.5-4.0 percent, the 30-year Treasury hits close to 5 percent and mortgage rates advance to 6 percent, "that will hit the economy very hard," Faber said. The 10-year yield stood at 2.89 percent Wednesday afternoon."
rsp,
PS I remember when Mike kicked this guy right off his show!
Even a broken clock is right twice a day, right Mr. Schiff? Hey, gold has been up the past few days, time to go all in.
There are plenty of brainwashed customers, Mike. :-(
Contrary to expectations, I believe Fed TAPER will likely result in long term Treasury yields heading lower again.
It's already happening, Ed.
"Dr. Doom, Nouriel Roubini… is now drawing parallels between 2014 and 1914.
Well, the stupid is as at least as strong…
WWI was a clusterfuck of massive proportions…it was expected to last a few months at most…after 4 months the British had lost 400,000 soldiers.
Millions of people died in that silly war that did nothing but lead to another silly war…and there were a whole bunch of "smart" people involved in every aspect, military, diplomatic and strategic.
We are governed by morons, so we shouldn't be surprised when shit happens.
Paul
We have to replace them somehow... this is horrible...
rsp,
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